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Slide #53. Access Midstream Partners — Midstream Compression Assets
Access Midstream Partners (ACMP)
Midstream Compression Assets
Access Midstream Partners, L.P. (NYSE:ACMP) today announced it has agreed to acquire certain midstream compression assets from MidCon Compression, L.L.C ("MidCon"), a wholly owned subsidiary of Chesapeake Energy Corporation, for $160 million. The planned acquisition adds natural gas compression assets, historically leased from MidCon, in the rapidly growing Utica Shale and Marcellus Shale regions. This transaction provides the opportunity to insource a key cost element of the Partnership's business model at an approximate 8x forward EBITDA multiple and adds future organic growth to the portfolio. The assets include more than 100 compression units with a combined capacity of approximately 200,000 horsepower.
Williams Partners is engaged in owning, operating, developing and acquiring natural gas, natural gas liquids (NGLs) and oil gathering systems and other midstream energy assets. Co. is principally focused on natural gas and NGL gathering that connects natural gas and NGLs produced at the wellhead to third-party takeaway pipelines. Co. operates assets in the Barnett Shale region in north-central Texas, the Eagle Ford Shale region in South Texas, the Haynesville Shale region in northwest Louisiana, the Marcellus Shale region primarily in Pennsylvania and West Virginia, the Niobrara Shale region in eastern Wyoming, the Utica Shale region in eastern Ohio, and the Mid-Continent region.
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Buy (3.33 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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